RE:RE:RE:Interesting movesKind of suspect if you ask me.. a report comes out about price weakness and bam down she goes.. I'd say the author might be playing games with the markets..?? 2021-09-08 08:04 ET - In the News
The Globe and Mail reports in its Wednesday edition that iA Capital Markets analyst Puneet Singh raised his share target for Lithium Americas to $32 from $29 after a U.S. federal judge denied a request from several native American tribes for a preliminary injunction to halt preliminary digging for the Thacker Pass lithium mine in Nevada. The Globe's David Leeder writes in the Eye On Equities column that Mr. Singh is holding firm with his "outperform" recommendation. Analysts on average target the shares at $27.67. Mr. Singh says in a note: "With LAC's shares outperforming over the past month ahead of this decision, we wouldn't be surprised if the shares pull back in the next few weeks, offering investor a better entry point. After years of consultations etc., Thacker Pass's RoD should hold as this is a large project that is of domestic importance to the U.S. To exercise conservatism, in our model we've maintained our delay to Thacker Pass's start on the off chance it gets caught up in the courts. However, we've increased our target price by reverting to a 1-times NAV multiple (from 0.9 times). Our valuation incorporates our long-term Li2CO3 price of $13,000 per ton and NPV10 per cent valuation for Thacker Pass."